302 Hughes Ave · Fairmont, IL 60441

$399,000

4 bd · 2.0 ba · 2,310 sqft · Other · 164 Days on market

Built 2025 4,791 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +3.7/10.0
• Rent growth +3.5/5.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home in the heart of Lockport! This stunning new construction offers 4 spacious bedrooms and 2 beautiful bathrooms, perfectly located near downtown Lockport, schools, local shops, the train station, and Dellwood Disc Golf Course. Step inside and fall in love with the open layout featuring hardwood floors throughout and elegant porcelain tile bathrooms. The kitchen steals the show with light oak-stained cabinets, quartz countertops, and sleek stainless steel appliances, ideal for cooking and entertaining. The finished basement includes two bedrooms and a stylish bar area, perfect for hosting guests or relaxing after a long day. Outside, enjoy a spacious attached 2-car g

Key facts

• Quartz countertops
• New construction
• Open layout

Tags

• NEW CONSTRUCTION
• OPEN LAYOUT
• HARDWOOD FLOORS
• PORCELAIN TILE BATHROOMS
• LIGHT OAK STAINED CABINETS
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Ownership is fee simple; Property is not currently leased; Approximately 2,310 total finished square feet (plans source)
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned) with 2 garage spaces; Shared driveway; total parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story design; New construction — ready for occupancy; Asphalt roof; Vinyl siding exterior
• Construction: New construction (ready for occupancy); Vinyl siding construction materials; Asphalt roof
• Exterior features: 40 x 120 lot dimensions; Lot under 0.25 acre; Interstate access nearby

Interior

• Kitchen: Kitchen on main level (11 x 16) with hardwood floors
• Bedrooms: Main-level master bedroom (11 x 10) with hardwood floors; Main-level bedroom (9 x 12) with hardwood floors; Two additional basement bedrooms (each 9 x 9) with hardwood floors — listed as below-grade possible bedrooms
• Flooring: Hardwood flooring throughout main and listed rooms
• Bathrooms: Two full bathrooms; Basement includes a bathroom
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: First-floor bedroom and full bathroom; Finished full basement with walk-out access; Seven total rooms; Double-pane windows
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $399k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (13.2% below list).
• Recommended offer: $346k (13.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#455 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety F.
• Lockport Twp Hsd 205 (suburban): math 35% / reading 38% proficiency, ranked #153 of 620 in IL (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lockport Township High Sch East (math 35% / reading 38%, grade F, #117 of 693 statewide, top 17%, 3,872 students, 0% FRL).
• Market conditions: Rents rising (+3.9%/yr); 131 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).
• This rent runs 40% of the median local income ($103k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($351k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $399k implies a 196% gain — meaningful room to come down on a strong offer.

Recommended offer $346,139 (13.2% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.11%
• DSCR: 1.18
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.91% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-37,310
• Equity at exit: $59,492

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $11,427
• Equity at exit: $34,498

Cash invested: $111,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60441

• Home prices YoY: -33.0%
• Rents YoY: 3.9%
• Active inventory: 131
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $3,461 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$94 /mo · $1,123/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $382

Break-even live

Break-even rent $2,978

Max offer price $399,000

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
752 Rosanne St Lockport, IL	3.0	2.0	1890	$3,500	$1.85	1d	1	1.06mi
752 Rosanne St Lockport, IL	3.0	2.0	1890	$3,700	$1.96	7d	1	1.06mi

Listing history 26 events

1. 2026-06-18
   days on market $399,000 Active 164 DOM
2. 2026-06-17
   days on market $399,000 Active 163 DOM
3. 2026-06-16
   days on market $399,000 Active 162 DOM
4. 2026-06-15
   days on market $399,000 Active 161 DOM
5. 2026-06-13
   days on market $399,000 Active 159 DOM
6. 2026-06-09
   days on market $399,000 Active 155 DOM
7. 2026-06-08
   days on market $399,000 Active 154 DOM
8. 2026-06-08
   price $399,000 Active 153 DOM
9. 2026-06-07
   days on market $409,999 Active 153 DOM
10. 2026-06-04
    days on market $409,999 Active 150 DOM
11. 2026-06-03
    days on market $409,999 Active 149 DOM
12. 2026-06-02
    days on market $409,999 Active 148 DOM
13. 2026-06-01
    days on market $409,999 Active 147 DOM
14. 2026-05-31
    days on market $409,999 Active 146 DOM
15. 2026-05-08
    price $409,999
16. 2026-04-10
    price $414,999
17. 2026-01-30
    price $419,000
18. 2026-01-05
    listed $429,000 Active
19. 2025-12-22
    historical
20. 2025-12-05
    listed Active
21. 2025-12-05
    historical
22. 2025-12-05
    price
23. 2025-11-14
    listed Active
24. 2021-12-01
    soldstatus $135,000
25. 2004-10-05
    soldstatus $135,000
26. 2002-05-10
    soldstatus $120,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,123 · $94/mo
• Projected year-2 tax: $5,090 · $424/mo
• Expected delta: +$3,967/yr (+$331/mo · 353.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,537
• − Mortgage interest: −$22,350
• − Property taxes: −$1,123
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,323
• − Management: −$3,323
• − Depreciation: −$11,607
• Taxable loss: −$2,185
• Est. tax savings @ 24.0%: +$524
• After-tax cash flow: $5,111/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lockport Twp Hsd 205
• NCES district ID: 1723350
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $69,994
• Composite: 33.5/100
• National rank: #5440
• State rank: #153 of 620 in IL

Livability — Fairmont

• Score: 68/100
• State rank: #455
• US rank: #9333

Category grades

Amenities F Commute A+ Cost of living A+ Crime A Employment C Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairmont, IL
• County: Will County · 412,448 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 36,844
• Household income: $103,374
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 519.0

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 9% Black 7%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 18% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 7% Russian/Polish/Slavic 4% Other Indo-European 2%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.43%
• Current HPI: 201.5857
• Rent YoY: ▲ 3.91%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+241.7% since first listed

12 events — show timeline

• 2026-05-08 Price Changed $409,999 MRED as Distributed by MLS Grid
• 2026-04-10 Price Changed $414,999 MRED as Distributed by MLS Grid
• 2026-01-30 Price Changed $419,000 MRED as Distributed by MLS Grid
• 2026-01-05 Listed $429,000 MRED as Distributed by MLS Grid
• 2025-12-22 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-05 Listed — MRED as Distributed by MLS Grid
• 2025-12-05 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-14 Listed — MRED as Distributed by MLS Grid
• 2021-12-01 Sold (Public Records) $135,000 Public Records
• 2004-10-05 Sold (Public Records) $135,000 Public Records
• 2002-05-10 Sold (Public Records) $120,000 Public Records

Property tax history

+2.5%/yr

Latest (2024): $1,123 · +1.1% YoY. Source: county tax records.